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Rupee closes at 96.28 vs USD; logs sharpest weekly drop since May as oil price jump stings
The Indian rupee faced its most significant weekly drop since May, driven by rising oil prices and strong demand for the dollar. Increasing tensions between the U.S. and Iran exacerbated concerns over energy supplies, further straining the rupee's position. However, interventions from state-run banks provided some relief, temporarily halting its downward trend. Market participants are closely monitoring oil prices and the Reserve Bank of Indias approach to the rupees depreciation.
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economictimes.indiatimes.com
Rupee slides past 96/USD to one-month low as oil climbs; RBI likely intervenes
On Tuesday, the Indian rupee fell to its lowest level in over a month, influenced by soaring oil prices and ongoing tensions in the Middle East. The Reserve Bank of India likely…
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Rupee slides to eight-week low as Middle East tensions, surging oil weigh on sentiment
The Indian rupee reached an eight-week low against the dollar on Tuesday. High crude oil prices and safe-haven dollar demand pressured the currency. Overseas investors resumed…
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Rupee ends flat as merchant bids, oil blunt comfort from modest inflows
The Indian rupee hovered close to a one-month low on Wednesday, driven by modest portfolio inflows and increased corporate demand for dollars. Asian currencies remained mostly…
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Rupee closes at 96.28 vs USD; logs sharpest weekly drop since May as oil price jump stings
The Indian rupee faced its most significant weekly drop since May, driven by rising oil prices and strong demand for the dollar. Increasing tensions between the U.S. and Iran…
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thehindubusinessline.com
Rupee logs sharpest weekly drop in nine as oil price jump stings
The Indian rupee experiences its steepest weekly drop in nine weeks, closing at 96.28 per dollar amid rising oil prices.
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Rupee weakens to two-month low as oil climbs; state-run banks cushion
The Indian rupee reached its weakest point in two months on Monday. Rising oil prices and Middle East hostilities pressured the currency's value. State-run banks sold dollars,…